Masterson Company has 500,000 shares of $22 par value ordinary shares outstanding. During the year Masterson declared a 15% share dividend when the market price of the shares was $26 per share. Three months later Masterson declared a $.66 per share cash dividend. Required: As a result of the dividends declared during the year, Retained Earnings increased or decreased by HOW MUCH? SHOW ALL YOUR CALCULATIONS & STATE whether RE increase or decrease.